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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income        
Loans and leases, including fees $ 8,108 $ 7,346 $ 24,513 $ 21,168
Investment securities 827 1,099 2,809 3,639
Deposits in banks 57 15 90 48
Total Interest Income 8,992 8,460 27,412 24,855
Interest Expense        
Deposits 1,187 1,086 3,473 3,193
Short-term borrowings 51 53 186 85
Long-term borrowings 707 763 2,189 2,111
Total Interest Expense 1,945 1,902 5,848 5,389
Net Interest Income 7,047 6,558 21,564 19,466
Provision for loan and lease losses 159 578 513 987
Net Interest Income after Provision (Credit) for Loan and Lease Losses 6,888 5,980 21,051 18,479
Non-interest Income        
Service charges and fees 252 396 954 989
Net gains (losses) on sales of loans and leases 8 71 (13) 71
Income from company owned life insurance 119 192 528 847
Gain on sale of premises and equipment 0 0 73 0
Net gains on the sale of AFS investment securities 32 280 308 1,382
Total other-than-temporary impairment on AFS investment securities 0 (35) 0 (181)
Other income 20 285 35 361
Total Non-interest Income 431 1,189 1,885 3,469
Non-interest Expense        
Employee salaries and benefits 2,434 2,710 7,787 8,036
Loss Contingency 0 (200) 0 (200)
Occupancy and equipment 726 705 2,212 2,093
Professional and legal fees 207 415 1,043 1,321
Net OREO expenses 85 256 3 469
Pennsylvania shares tax expense 156 154 494 393
FDIC and state assessments 146 111 566 455
Communications and data processing 247 257 749 748
Credit for credit losses on off-balance sheet credit exposures (24) (65) (97) (236)
Directors' fees 97 95 436 335
Insurance 98 87 305 270
Merger expenses 254 0 659 0
Other operating expenses 440 476 1,255 1,584
Total Non-interest expense 4,866 5,001 15,412 15,268
Income Before Tax Expense 2,453 2,168 7,524 6,680
Income Tax Expense 80 25 132 85
Net Income 2,373 2,143 7,392 6,595
Less Net Income (Loss) Attributable to Noncontrolling Interest 98 113 298 342
Net Income Attributable to Royal Bancshares of Pennsylvania, Inc. 2,275 2,030 7,094 6,253
Less Preferred Stock Series A Accumulated Dividend and Accretion 0 342 0 1,014
Net Income Available to Common Shareholders $ 2,275 $ 1,688 $ 7,094 $ 5,239
Per Common Share Data        
Net income , Basic $ 0.08 $ 0.06 $ 0.24 $ 0.17
Net income, Diluted $ 0.08 $ 0.06 $ 0.23 $ 0.17